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Value of Ruble up 13 pct since beginning of 2015: official

Xinhua, March 22, 2015 Adjust font size:

Value of Russia's ruble compared to U.S. dollar and euro has grown by 13 percent since the beginning of the year, indicating a new point of balance, Finance Minister Anton Siluanov said Saturday.

The national currency no longer reacts to falling oil prices or foreign debt payments, Siluanov said in an interview with Russian TV channel, adding that he is certain there will be no significant changes in ruble's exchange rates.

"Despite oil prices falling in the past few days, the exchange rate is practically not reacting," RIA Novosti news agency quoted him as saying.

"Even if oil prices are somewhat different from what we see today, ruble's exchange rates will not react in the same way as at the end of last year or the beginning of this year," Siluanov said.

Ruble lost almost half of its value against the U.S. dollar in 2014, as the country's economy was hurt by the falling price of oil and the economic sanctions imposed by Western countries. Last month, the Russian national currency achieved better performance as oil prices have started to stabilize around 60 dollars a barrel. Endite